The Bank of England’s Monetary Policy Committee (MPC) is meeting this week on Thursday. This meeting will have the committee members discussing the economic outlook, the current economic situation, the inflation rate, and what to do about it all in regards to the standard base interest rate. Experts couldn’t be more divided or expecting such different outcomes for this meeting or those to follow throughout the year.

Some believe that the inflation rate will rise above the target rate of 2.0% and that will prompt a move by the MPC while others expect the inflation level to make moves but nothing that would require the MPC to make a change especially with Brexit on the horizon.

What the outcome will be for this meeting will be is perhaps not being talked about so much as what will happen in the meetings to come. There are those that believe at least one interest rate cut, though it would be small, could be called for by the end of the year. Still there are many experts that believe Brexit could surprise everyone and interest rates might be hiked slightly upward by the end of the year.

Homeowners are of course watching the forecasts and eyeing the expectations of experts. After all, there are a large number of them due to have their current mortgage deal end the same month of the Brexit deadline in October. With a mortgage soon to end and experts encouraging remortgaging to save money, then how the MPC votes in the months to come is important.

For some the best advice would be to overlook any forecasts or expectations as Brexit is an unknown in itself. If there are low interest rate remortgages available, and there are, then there is no time like the present to start shopping and secure a remortgage that could save money.